The 6,000 employees of the low-cost brand GiFi are worried about their fate

GiFi, a low-cost decoration retailer, is reportedly facing bankruptcy and is set to initiate legal proceedings for judicial recovery. Under the leadership of Patrick Puy since mid-October, the company is struggling against fierce competition from Chinese platforms and other retailers. An extraordinary meeting on October 20 revealed plans to approach the Toulouse commercial court for potential restructuring. GiFi's challenges have been exacerbated by a chaotic IT system migration in June 2023, which disrupted stock management and followed a significant drop in sales due to the pandemic.